Shopper Psychology and Trends

Shopper Psychology and Trends

The human mind works in mysterious ways, and all major retailers know how to take advantage of it. But do you?

If you are looking to boost your e-commerce store, it is important to understand how using basic psychology can help encourage more people to purchase from your store.

The team from 16Best compiled an infographic about knowing your customer, understanding their purchase decisions, and what influences their shopping behaviour. Here are some key highlights from the guide:

Conscious shopping vs unconscious shopping

Conscious shopping:

  • They shop for eco-conscious brands.
  • They buy less, and don’t mind going for second hand products.
  • Quality over quantity.
  • BYOB – Bring your own bag.
  • They shop with a list and with a set budget.

Unconscious shopping:

  • Shopping with friends and family.
  • Shopping when they are tired, hungry, bored or upset.
  • Purchase just because it’s on sale.

Workings of the human brain

  • People remember 80% of the things they see or do, 20% of what they read, and 10% of what they hear.
  • Visuals are processed 60K times faster than text.
  • 93% of customers place visuals and colours above other factors. 90% of the information sent to the brain are visuals.
  • Colour increases brand recognition by 80%.
  • Teals and navy blue colours are ideal for shoppers on a budget.
  • Traditional buyers prefer pink, orange and sky-blue over others.
  • 60% of customers are more likely to buy a product that has the word “Guaranteed” in it, while
  • 52% are more likely to buy with the word “Sale” in it. The trick is to have both, right?
  • 80% of people are likely to spend more in a scented room.

Decision-making factors

  • Price = 87%
  • Shipping cost and speed = 80%
  • Discounts and Offers = 71%
  • Product variety = 71%
  • Reviews = 68%
  • Flexible Returns and Refunds = 68%
  • Brand reputation = 67%
  • Simple site navigation = 64%

Types of Shoppers

Bargain shoppers:

  • 137M of them plan to shop on Thanksgiving weekend.
  • 80% of them are price conscious and buy items at the best price.
  • 122M of them plan to shop on Cyber Monday.

Researchers:

They research extensively on every item they buy. 81% of shoppers research online before buying.

Impulse Buyers:

  • 84% of all shoppers have made impulse purchases.
  • 54% of them have admitted spending $100 on impulse buys.
  • 20% of them have spent $1000 or more.
  • 46% of men regretted impulse purchases compared to 52% of women.

Negotiators:

  • 20% of all shoppers are negotiators. For them, every transaction is about saving.

Loyalists:

  • 62% millennials feel that online content drives brand loyalty.
  • They purchase everything from the brands they love.
  • 75% of the shoppers belong to up to 10 loyalty programs.

These are some of the points we picked that are more suited for online shoppers. Of course, the infographic contains a lot more information about offline shopping and the influence of sound, music, scents, store signs etc.  You'll need to click on the infographic to enlarge it.

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About the Author: Nick Walsh

Nick has been a computer/business analyst for 35 years. Moving into online marketing was a natural progression back in 1994, he has never looked back. What great time to be alive! When you love what you do, you'll never work a day in your life!